South Korea is actively promoting a domestic stablecoin priced in Korean won (KRW) to challenge the dominance of US dollar-pegged stablecoins. The Financial Services Commission's move to restrict corporate investment in USDT and USDC highlights this strategic shift. With its mature digital payment ecosystem and strong market demand (such as the phenomenon of "kimchi premium"), the launch of a Korean won stablecoin is critical for enhancing liquidity, transparency, and capital efficiency. Industry giants like Naver and Kakao's Kaia, as well as international companies like Circle, are advancing related projects while awaiting final regulatory guidance from the forthcoming Digital Assets Basic Law.